First Data Corporation has signed an issuing processing contract with VTB Bank (Deutschland). It will provide the corporate and commercial bank specialising in German-Russian trade relations with issuing services for its new MasterCard corporate card portfolio which features a bespoke bankcard design and comprehensive insurance package. The range of services delivered by First Data will include technical processing of electronic transactions, operational services such as handling applications and customer services, and fraud management services.
Dr. Valeriy Lyakin, chairman of the board at VTB Bank (Deutschland) and responsible for Germany, says: “VTB Bank (Deutschland) wants to offer its clients individual, intelligent and extremely efficient solutions, intended to help them achieve a sustainable competitive advantage. We are pleased that, together with our service provider First Data Deutschland, we have been able to launch the VTB Corporate Card in the market in February and therefore enable employees of our corporate clients to have the opportunity to pay business-related transactions easily, conveniently and in a way that enables them to significantly simplify accounting processes and reduce costs in the long-term.”
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